Internal Auditor IV - VSIC

Job Description:

Established nearly two centuries ago, FM is a leading mutual insurance company whose capital, scientific research capability and engineering expertise are solely dedicated to property risk management and the resilience of policyholders and its policyholder-owners. Velocity Specialty Insurance Company is a new subsidiary of FM that is backed by the financial strength and legacy of FM.

Velocity Specialty provides Excess & Surplus Lines coverage in catastrophe exposed market spaces and aligns with FM’s approach in understanding the hazards that can impact property losses and business continuity to provide insurance protection, not generally available in the standard/admitted market, to meet the needs of policyholders.

We are seeking an experienced Internal Auditor to join our team. In this role, you will independently plan and execute financial, operational, and internal control audits across assigned business areas. You will evaluate the effectiveness of internal controls, identify risks and improvement opportunities, and provide recommendations that strengthen processes, compliance, and operational efficiency. The ideal candidate is analytical, detail-oriented, and comfortable working independently while partnering with stakeholders across the organization to drive continuous improvement.

What You'll Do

Audit Execution (40%)

• Plan and perform financial and operational audits in accordance with internal audit standards and established audit methodologies.
• Identify and assess business risks and evaluate the effectiveness of related controls.
• Develop and execute risk-based audit testing procedures.
• Analyze audit results, investigate exceptions, and determine root causes.
• Document audit workpapers, findings, and recommendations.
• Support the ongoing enhancement of audit programs and testing approaches.
• Communicate audit observations and recommendations to management.

Internal Controls Over Financial Reporting (ICFR) Testing (25%)

• Assess risks and key controls related to Internal Controls over Financial Reporting (ICFR).
• Evaluate the design and effectiveness of financial reporting controls.
• Perform testing of key controls and document testing results.
• Collaborate with stakeholders to monitor testing progress and timelines.
• Prepare clear and concise audit reports, analyses, and supporting documentation.
• Assist in validating remediation plans and corrective actions.

Audit Support & Special Projects (10%)

• Prepare schedules and analyses to support audit planning and execution.
• Perform analytical reviews and evaluate audit results.
• Participate in special projects, process improvement initiatives, and other assignments as needed.

Knowledge & Skills

Internal Audit & Risk Management

• Understanding of the Institute of Internal Auditors (IIA) Professional Practices Framework and Code of Ethics.
• Knowledge of risk assessment, control design, and audit testing methodologies.
• Ability to evaluate governance, risk management, and internal control processes.

Accounting & Controls

• Working knowledge of financial and managerial accounting principles.
• Experience assessing financial reporting controls and supporting compliance requirements.
• Ability to identify control deficiencies and recommend practical improvements.

Technology & Data Analysis

• Ability to evaluate application controls and related business processes.
• Experience performing analytical reviews and assessing the reliability of audit evidence.
• Understanding of Information Produced by the Entity (IPE) testing concepts.

Professional Skills

• Strong attention to detail and commitment to accuracy.
• Ability to manage multiple priorities in a deadline-driven environment.
• Sound judgment and decision-making skills.
• Self-starter with the ability to work independently.
• Strong interpersonal and collaboration skills.

What Makes You Successful

• You take ownership of your work and consistently deliver high-quality results.
• You are comfortable challenging the status quo and identifying opportunities for improvement.
• You communicate effectively with stakeholders at all levels of the organization.
• You embrace continuous learning and professional development.
• You work collaboratively while maintaining objectivity and professional skepticism.

Required

• Bachelor's degree in Accounting, Finance, Risk Management, Insurance, or a related business field.
• 3–5 years of internal audit, external audit, or related risk and controls experience.
• Strong understanding of risk assessment, internal controls, and audit methodologies.
• Experience documenting findings, preparing workpapers, and presenting recommendations.
• Strong analytical, problem-solving, and organizational skills.
• Excellent written and verbal communication skills.

Preferred

• Professional certifications such as CPA, CIA, or CA.
• Experience within the insurance industry, particularly Excess & Surplus (E&S) lines.
• Experience with ICFR/SOX testing and control evaluation.

Some travel required, p ay will be aligned to VSIC, and any benefits are based on the FM benefits provided to VSIC.

The hiring range for this position is $94,000 - $134,000. The final salary offer will vary based on geographic location, individual education, skills, and experience. The position is eligible to participate in FM’s comprehensive Total Rewards program that includes an incentive plan, medical, dental and vision insurance, life and disability insurance, well-being programs, a 401(k) and career development opportunities, tuition reimbursement, flexible work and time off, including vacation and sick time. ​